New BofA Rewards™ Program to Reach Millions More Clients with Expanded Benefits

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"BofA Rewards ensures every client, no matter where they are in their financial journey, can experience meaningful benefits and feel valued for their relationship with us," said Mary Hines Droesch, Head of Consumer and Small Business Products & Analytics at Bank of America. "Clients want loyalty programs that offer the flexibility to choose benefits that reward their ambitions. BofA Rewards delivers differentiated value that evolves with clients' goals."

Rewards Available to Millions More Clients
Through the expansion of the company's industry-leading loyalty program, all clients with an active Bank of America personal checking account can join BofA Rewards with no minimum balance. This includes more than 30 million existing clients now newly eligible for the program. BofA Rewards features four tiers based on a client's three-month average account balance across their qualifying² Bank of America banking and Merrill investing accounts:

• Member tier: <$30,000
• Preferred Plus tier: $30,000 to <$100,000
• Preferred Honors tier: $100,000 to <$1 million
• Premier tier: $1 million+

Personalized Benefits for Every Life Stage
BofA Rewards unifies Bank of America's previously separate rewards offerings to recognize clients' goals at every life stage. Every member will enjoy valuable perks designed to make everyday banking – and life's major milestones – more rewarding, including:

• Credit card rewards bonuses of 10 to 75% on everyday purchases with eligible credit cards.
• Cash back deals from more than 15,000 popular national and local brands, plus members exclusives.
• Exclusive discounts on home and auto loans.
• Enhanced fraud and identity monitoring, including dark web monitoring, Social Security number monitoring, full-service identity restoration, and more, in addition to new My Credit tools offered to all clients.

Preferred Honors and Premier tier members can also get reimbursed for popular subscriptions from top streaming, entertainment, and news services. This benefit provides credits of up to $96 per year³ for Preferred Honors tier members and up to $180 per year⁴ for Premier tier members.

Expanded Access to Lifestyle Benefits
BofA Rewards will offer lifestyle benefits for Preferred Honors and Premier tier members. Through a continuously expanding suite of benefits, clients will enjoy curated offers and premium experiences across top lifestyle categories including travel, automotive, food and wine, sports and fitness, style and fashion, arts and entertainment, home, health and wellness, and personal services. For example:

• Preferred Honors tier: Automotive savings on brands like BMW, Lexus, Audi, Volvo; access to arts and entertainments moments, including major league sports, concerts, Broadway shows, and opera; and premium travel experiences with partners including Regent Seven Seas Cruises, Virgin Hotels, and Sixt.
• Premier tier: Tier-exclusive luxury offers with Backroads, The Eden Residence Club, Mercedes, Sollis Health, and Blacklane, as well as curated private events, such as the Food Network New York City Wine & Food Festival, Lamborghini, and CULTURED magazine.

An Immersive Digital Experience
BofA Rewards members will also enjoy a fully redesigned experience within the Bank of America Mobile App and Online Banking. The reimagined platform includes a modern, intuitive design with personalized offers and tier-specific features, making it easier than ever to activate and maximize the value of their benefits.

Additional Details
Since its launch in 2014, Bank of America's Preferred Rewards® program has grown to more than 11 million members. Building upon this success, BofA Rewards will replace Preferred Rewards on May 27. Previously, clients needed to maintain a three-month combined average account balance of $20,000 or more across their Bank of America banking and Merrill investing accounts to be eligible for enrollment. Current Preferred Rewards members will be automatically enrolled in BofA Rewards⁵. Bank of America clients enrolled in Preferred Rewards for Business will remain in their current program with additional details coming soon.

Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact

Carolyn Batt, Bank of America         
Phone: 1.646.983.1369
[email protected]

Footnotes

¹ To participate, you just need an eligible Bank of America checking account. Checking accounts may have a monthly maintenance fee if waiver requirements are not met.

² Qualifying accounts include:

• Bank of America deposit accounts: Bank of America Advantage Banking, savings, money market savings, CD and IRA accounts
• Merrill® investment accounts, such as the Cash Management Account (CMA) and IRA accounts
• 529 plans appearing on your Merrill statement
• Revocable grantor trust accounts

³ $8 / month maximum credit on a portfolio of several pre-determined subscription services

⁴ $15 / month maximum credit on a portfolio of several pre-determined subscription services

⁵ On or about May 26, 2026, our Bank of America Preferred Rewards program becomes BofA Rewards. If you are enrolled in the Preferred Rewards program on the transition date, your enrollment will be automatically changed to the new BofA Rewards program: current Gold and Platinum tier members will be changed to the Preferred Plus tier; current Platinum Honors members will be changed to the Preferred Honors tier; current Diamond Honors members will be changed to the Premier tier. Review your product within the Personal Schedule of Fees for fee waivers and benefits that will apply to your account once Preferred Rewards changes to BofA Rewards. Clients enrolling in the program for the first time will have their balances reviewed daily during the first 30 days. Benefits activate within 30 days of enrollment. Clients will be automatically upgraded to higher tiers when their qualifying balances increase.

Disclosure
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.

Investment products

Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp.

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SOURCE Bank of America Corporation